91. Substituted by the Finance Act, 2003, w.e.f. 1-4-2003. Prior to its substitution, sub-section (2), as amended by the Finance Act, 2002, w.e.f. 1-4-2003, the Finance Act, 2001, w.e.f. 1-6-2001 and the Finance Act, 2000, w.e.f. 1-6-2000, read as under :

(2) Notwithstanding anything contained in any other provisions of this Act, any amount of income distributed on or before the 31st day of March, 2002 by a Mutual Fund to its unit-holders shall be chargeable to tax and such Mutual Fund shall be liable to pay additional income-tax at the rate of ten per cent :

Provided that nothing contained in this sub-section shall apply in respect of any income distributed to a unit holder of open-ended equity oriented funds in respect of any distribution made from such fund for a period of three years commencing from the 1st day of April, 1999.